Enoc has agreed to pay 455 pence ($7.47) per share in cash to acquire the remaining 48.5% of Dragon shares.
The offer represents a 35% premium to the share price 3 June — the day before the company said it had received an approach — and values the company at $3.86 billion. The principal asset of Dragon Oil, which is listed in Dublin and London, is the Cheleken contract area in Turkmenistan’s Caspian Sea section.
The
